Inman Jager Wealth Management LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Inman Jager Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,701 shares of the information services provider’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Weiss Asset Management LP bought a new stake in shares of Alphabet during the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the third quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC boosted its position in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 3.2 %

Shares of GOOG stock opened at $187.14 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The business has a 50-day moving average of $193.12 and a 200 day moving average of $176.13. The stock has a market capitalization of $2.29 trillion, a PE ratio of 23.25, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock valued at $16,600,078. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.13.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.